Jerry Samet
01-18-2025, 11:45 AM
The market had another good session yesterday. The major averages gapped up at the open and were mostly higher after that. A little late selling came in and the major averages finished off their highs. All the major averages still closed in the upper half of their intraday trading ranges. The NASD averages led the way with the COMPQ and the NDX gaining 1.51% and 1.66% respectively. The SPX rallied 1.00%. Volume was mixed, higher on the NASD and lower on the New York. Leading stocks had a good session as well with the leaders index gaining 1.35% on the day. The index closed in about the middle of its trading range on higher but below average volume. The market had another solid session yesterday. Since the CPI report came in friendly the market is pricing in more rate cuts this year and starting sooner. Leading stocks are acting pretty well and there have been more actionable stocks appearing. The market is acting like it wants to go higher. We are in earnings season now and that makes it harder to really predict what will happen, but at least for now the picture looks brighter. Jerry